Rapid Nutrition Completes Final Convertible Note Conversion Ahead of Schedule, Strengthening Financial Position
Early completion of convertible note conversion boosts financial flexibility, enabling Rapid Nutrition to focus on strategic growth initiatives.
London, United Kingdom – 6 November 2024 - Rapid Nutrition PLC (Euronext Growth Paris: ALRPD), a global leader in natural wellness products, is pleased to announce the early completion of the final conversion of its outstanding Convertible Notes, concluding the company's agreement with Atlas even sooner than previously projected.
Completion of Convertible Notes Conversion Ahead of Schedule
Originally set for completion by March 2025, Rapid Nutrition had already outlined plans to accelerate the final conversion by the end of December 2024. However, due to favorable market conditions and the company's strong position, Rapid Nutrition has successfully completed the conversion earlier than expected.
This early completion reflects the company’s proactive approach to enhancing its financial strength and its ability to act on positive market opportunities. It marks a significant milestone in the company’s journey to becoming debt-free, leaving no further convertible bonds outstanding.
CEO Simon St Ledger commented:
"We are thrilled to have finalized this critical milestone earlier than anticipated. Achieving the final conversion ahead of schedule positions us with enhanced financial flexibility, allowing us to continue focusing on executing our growth strategy and driving value for our shareholders. We appreciate ASO’s steadfast support and confidence in our strategic vision, which has been vital in driving these key growth initiatives."
Positive Momentum and Growth Prospects
The company’s solid foundation, buoyed by its expanding footprint in China, local manufacturing initiatives, and growth in its subscription-based model, provided the momentum to fast-track the completion of the Convertible Notes. With over 200 customers already enrolled in the subscription plan, Rapid Nutrition’s recurring revenue streams continue to gain traction, reinforcing long-term business sustainability.
Looking ahead, Rapid Nutrition is poised to leverage its position to capitalize on growth opportunities, particularly in the Asia-Pacific region. The company remains committed to executing its strategic initiatives, driving innovation across its flagship brands, and delivering on its long-term growth objectives.
For further information about Rapid Nutrition PLC and its ongoing initiatives, please visit www.rnplc.com.
About Rapid Nutrition
Rapid Nutrition is a leading health and wellness company committed to providing innovative solutions for a healthier world. With a focus on research-backed formulas, we empower individuals to optimize their well-being and face life's challenges with confidence.
Investor Relations Contact:
Disclaimer
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and or otherwise that involve risks, uncertainties and assumptions that could cause Rapid Nutrition PLCs actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Rapid Nutrition PLC has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Rapid Nutrition PLC undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
This media information does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. This information does not constitute an offering prospectus within the meaning within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 of June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71 or a listing prospectus within the meaning of the listing rules of the Euronext Exchange or OTC Markets. The media release is in accordance with International Reporting Standard: Rule 12g3-2(b) under the Securities Exchange Act ('Rule 12g3-2(b)') permits non-U.S. companies with securities listed primarily on a Qualified Foreign Exchange to make publicly available to U.S investors in English the same information that is made publicly available in their home countries as an alternative to SEC reporting Exchange Act Rule 12g3-2(b).